As the redevelopment plans for Old Town Newhall progress, we're seeing many property owners looking to capitalize on the redevelopment process early in the game. Up for sale this week is an entire city block bounded by San Fernando Road, Lyons Avenue, Railroad Avenue and 9th Street. Yes, that's the ENTIRE block! Priced at $12 million, the listing states that there is 75,900 square feet of land that can be developed into 151,800 square feet of building space, including mixed use residential, retail and office space. However, I only calculated 72,725 square feet of land from the PinPoint digital plat maps. The area is zoned UC, or Urban Center, with a maximum building height of 47 feet and a possible variance to increase the building height to 55 feet for a portion of the property facing Lyons Avenue. The City of Santa Clarita may provide financial assistance in relocating existing tenants and certain building fees. Current tenants include the new Martial Arts Museum and the Insurance Auto Collision Center. Since this property is in the Old Town Newhall Redevelopment area, it is subject to certain rules and restrictions on the types of buildings and the density that will be allowed, as well as the types of tenants. The redevelopment plan is very clear in stating that the majority of the automotive-related businesses are to be relocated, so it's unlikely that the existing automotive tenants on this property will be able to remain. What we've seen so far in the sell-off of properties in the Old Town Newhall area has been a mixed bag, with some viable properties (like this one) and some that are on the other side of the railroad tracks. With the railroad crossing situation still unclear (as in thus far any changes to railroad crossings have been denied), properties on the other side of the railroad tracks may not be able to be developed as planned. Interested in purchasing properties in the Old Town Newhall Redevelopment Area? Contact Linda Slocum via email, or call her at 661.670.0349. | 
